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cut, there will not be tax cuts, big tax cuts? >> it would reduce the rate and in all likelihood you would maintain the same amount of revenue and, of course, revenue grows and people have more confidence in the economy. they have more confidence in fairness and equity and that the rules are rules they can live with. >> governor o'malley, let me pick your brain as head of the democratic governors association. there are 11 governorships up. right now four of the eight that you're defending look like they could go to republicans. what's wrong here at the state level because the republicans look like they're maintaining and could pick up some of the governorships currently held by democrats. what's going on? >> well, actually we're being greatly outspent in virtually every state, and we are defending 11 states. some of them not in the friendliest of terrains for president obama, but as we saw last year in kentucky, a state that where the president did not prevail, our candidate was all about jobs, all about bringing people together t
cut, there will not be tax cuts, big tax cuts? >> it would reduce the rate and in all likelihood you would maintain the same amount of revenue and, of course, revenue grows and people have more confidence in the economy. they have more confidence in fairness and equity and that the rules are rules they can live with. >> governor o'malley, let me pick your brain as head of the democratic governors association. there are 11 governorships up. right now four of the eight that you're...
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let's talk about the tax cuts. he signalled over the last couple of days, details about how they would pay for it they didn't put out details, they backed away from it. they are not being honest with the american people. you know what's worse? he got testy about it, being on defense and i think that came across to the american people. >> the president seemed to get testy at one point when he was interrupted by jim lehrer. will the president do more debate prep before the next debate, prepare differently. do you think he didn't take this seriously enough? >> we feel good about the president's performance here tonight. he wasn't speaking to the people in the room, the pundit class, but people at home. i think what people heard tonight was a plan forward, a detailed plan on how we'll rebuild the economy and strengthen the middle class. another guy that got testy, interrupted the moderator. i wondered if we needed a moderator since we had mitt romney. and someone doubling down on the very same policies that crashed the
let's talk about the tax cuts. he signalled over the last couple of days, details about how they would pay for it they didn't put out details, they backed away from it. they are not being honest with the american people. you know what's worse? he got testy about it, being on defense and i think that came across to the american people. >> the president seemed to get testy at one point when he was interrupted by jim lehrer. will the president do more debate prep before the next debate,...
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tax cuts. you knew this was goingo be a big issue. president obama went on the attack saying mitt romney is essentially pitching a huge tax cut for the rich. >> governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cuts, that's another trillion and $2 trillion in additional military spending that the military hasn't asked for. >> mitt romney does propose across the board 20% tax cuts in the nonpartisan tax center says under that plan, taxes on the wealthiest americans would be reduced by $5 trillion. initially. but romney says he would offset the cuts with reductions and deductions and closing loopholes that will reduce the tax cut for the wealthy. so our verdict here is that president's saying he would cut the taxes by $5 trillion on wealthy is false because any deduction you take out will make it smaller. there is more to this story. on the deficit, mitt romney claims with the tax cuts he'll not add to the deficit. >> my number one pri
tax cuts. you knew this was goingo be a big issue. president obama went on the attack saying mitt romney is essentially pitching a huge tax cut for the rich. >> governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cuts, that's another trillion and $2 trillion in additional military spending that the military hasn't asked for. >> mitt romney does propose across the board 20% tax cuts in the nonpartisan tax center says under...
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now, as for those specifics on taxes, i go back to the last time we successfully had major tax reform which was in 1986 with ronald reagan as president. he didn't come out with all the specifics. he worked with the congress behind the scenes, and they achieved meaningful tax reform because they kept those discussions private, they didn't draw public lines in the sand and therefore, they emerged successful. successful pattern to follow, ronald reagan's. on the other hand, you had the debt limit talks in 2011 where president obama in the middle of talks never, until this day, has gotten specific. we don't know if he offered to raise the medicare retirement age. we don't know how much he said he would cut medicare and enact entitlement reform. so he did the opposite. he went into a serious negotiation not as a candidate but as the president and never got specific. it's one of the reasons we never got a big debt limit deal. so i think mitt romney actually is following the reagan pattern. the question is who when it comes to real negotiation with congress will follow through and get it don
now, as for those specifics on taxes, i go back to the last time we successfully had major tax reform which was in 1986 with ronald reagan as president. he didn't come out with all the specifics. he worked with the congress behind the scenes, and they achieved meaningful tax reform because they kept those discussions private, they didn't draw public lines in the sand and therefore, they emerged successful. successful pattern to follow, ronald reagan's. on the other hand, you had the debt limit...
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one where he will not extend the bush tax cuts for the wealthiest americans. so the fiscal cliff is going to be folded in some way into renegotiating the tax cuts and how they get extended. i think he'll say it's a no-go, i'm not going to extend the bush tax cuts, so either we can negotiate it now and these few remaining weeks before christmas, or we have see the government shut down. i think therwill be a little chicken game playing at the end of the year. what most people in washington likely think will happen is they'll negotiate some way to say here's a broad framework for what both sides want. let's work it out next year. >> sheila behr, i think americans are excited about the future. i'm glad people are feeling a little bit better about it, we all are. what has to happen so that a year if now we're not talking about the 9% versus the 1% and that there is some sense that banks are finally helping america move forward. >> it is your influence policies that jam the lens. the person they can get by lending into a still uncertain economy has. they can take th
one where he will not extend the bush tax cuts for the wealthiest americans. so the fiscal cliff is going to be folded in some way into renegotiating the tax cuts and how they get extended. i think he'll say it's a no-go, i'm not going to extend the bush tax cuts, so either we can negotiate it now and these few remaining weeks before christmas, or we have see the government shut down. i think therwill be a little chicken game playing at the end of the year. what most people in washington likely...
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there are going to be tax cuts because mitt romney proposes to cut 20% off everybody's taxes across the board. >> not 5 trillion. >> but it adds up to 4.9 the ten years that the number the president was citing. that assumes no revenue coming from anywhere else. mitt romney says that is not the right assumption. if i cut taxes across the board and more money into piedmont acre pockets and spend more and have a lower tax rate and have more jobs and more own. >> stimulate the economy. >> and more money will come in. >> that is where the disagreement was. >> mitt romney does have some plans for cutting loopholes and some of these -- >> right. . he says we cut taxes and close loopholes and it becomes revenue neutral and president cited another studying saying you have to raise taxes on the middle class. that is why this becomes so hard to fact check one of these because they are both sort of saying things that are kind of true. >> let's switch to jobs. this doesn't have to do with the debate necessarily last night but it's critical. we have the big monthly jobs report tomorrow and we have so
there are going to be tax cuts because mitt romney proposes to cut 20% off everybody's taxes across the board. >> not 5 trillion. >> but it adds up to 4.9 the ten years that the number the president was citing. that assumes no revenue coming from anywhere else. mitt romney says that is not the right assumption. if i cut taxes across the board and more money into piedmont acre pockets and spend more and have a lower tax rate and have more jobs and more own. >> stimulate the...
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. >> he was dishonest when he said he never proposed $5 trillion in tax cuts, that was dishonest. you said on the broadcast to 70 million americans, i will repeal obama care, but i will still be able to cover people with pre-existing conditions. ten minutes after the debate sent he someone into the pressroom to say he really didn't mean that. >> reporter: ed gillespie, cop adviser of the romney campaign, eshlsly accusing the obama campaign of being sore losers on abc this morning. he compared them to 7-year-olds that lost the checkers game and cleared the board off the table. fredricka. >> let's talk about the president's plans. he'll be returning to ohio. he spent a lot of time in that swing state feeling that it's particularly vital, much more vital than other swing states like, say, florida? >> reporter: it really is. i mean, in order to win the white house, you really have to be able to win ohio. this is key for the president. i've said this now for quite some time. if you want to know the states critical it to winning the white house or regaining the white house, look at the
. >> he was dishonest when he said he never proposed $5 trillion in tax cuts, that was dishonest. you said on the broadcast to 70 million americans, i will repeal obama care, but i will still be able to cover people with pre-existing conditions. ten minutes after the debate sent he someone into the pressroom to say he really didn't mean that. >> reporter: ed gillespie, cop adviser of the romney campaign, eshlsly accusing the obama campaign of being sore losers on abc this morning....
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taxpayers will pay $3,000 more in taxes if they don't do anything. a new report from the center of regional analysis at george mason university predicts that some 277,000 federal employees will lose their jobs in the next 12 months. that's 14% of the federal work force. and 14 of the 17 economists surveyed by cnn money, ali, they predict the fiscal cliff will cause a new recession. interestingly, all 17 believe the economy won't plunge off the cliff becau they think congress will finally get its act together and do something in the lame duck session following the elections or when the new congress convenes in late january. lame in either case. but by then it could be too late for the economy, and that's because companies don't like uncertainty, ali, and some say they're already holding back on hiring. we can't have an economic recovery without job creation. >> with a looming economic disaster like the fiscal cliff, you would have expected the topic to top the presidential debate. i was waiting for the question. i wanted to know the leadership they we
taxpayers will pay $3,000 more in taxes if they don't do anything. a new report from the center of regional analysis at george mason university predicts that some 277,000 federal employees will lose their jobs in the next 12 months. that's 14% of the federal work force. and 14 of the 17 economists surveyed by cnn money, ali, they predict the fiscal cliff will cause a new recession. interestingly, all 17 believe the economy won't plunge off the cliff becau they think congress will finally get...
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to save and invest tax free. this is one of the big differences between these two candidates. mitt romney has a pro growth tax reform plan and create jobs and get the economy moving. you heard the president has no plans whatsoever. >> but the democrats keep pointing out you're being very vague and you're not being very specific in the so-called offsets. how do you pay for $5 trillion in tax cuts without raising the deficit? >> well, you know what, wolf, i'm reminded of what happened in 1986, the last time the congress and the president reagan at the time undertook major tax reform. the president didn't come forward with a plan, take it or leave it plan that he presented to the congress. instead, he articulated some broad principles that would guide him in his negotiations with congressional leaders and those led to major tax reform. that created a major economic expansion in this country. those are the same principles that governor romney would follow, if he's elected as president. >> so, he's not going to spell
to save and invest tax free. this is one of the big differences between these two candidates. mitt romney has a pro growth tax reform plan and create jobs and get the economy moving. you heard the president has no plans whatsoever. >> but the democrats keep pointing out you're being very vague and you're not being very specific in the so-called offsets. how do you pay for $5 trillion in tax cuts without raising the deficit? >> well, you know what, wolf, i'm reminded of what happened...
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taxes. >> that's correct. it's just the way he formlated it. >> thanks very much. we'll be right back. [ female announcer ] almost nothing can dampen a baby's mood, when he wakes up dry in pampers. unlike other diapers, pampers has 3 absorbent layers, for up to 12 hours of protection overnight, and more beautiful mornings. ♪ [ female announcer ] pampers. peaceful nights. playful days. not quite knowing what the next phase was going to be, you know, because you been, you know, this is what you had been doing. you know, working, working, working, working, working, working. and now you're talking about, well you know, i won't be, and i get the chance to spend more time with my wife and my kids. it's my world. that's my world. ♪ that's my world. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop
taxes. >> that's correct. it's just the way he formlated it. >> thanks very much. we'll be right back. [ female announcer ] almost nothing can dampen a baby's mood, when he wakes up dry in pampers. unlike other diapers, pampers has 3 absorbent layers, for up to 12 hours of protection overnight, and more beautiful mornings. ♪ [ female announcer ] pampers. peaceful nights. playful days. not quite knowing what the next phase was going to be, you know, because you been, you know, this...
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the payroll tax holiday, that would expire, the health reform taxes, those would kick in. guess what? it would all mean less money in our wallets. carol? >> wow. well, you have to think that when congress looks at those numbers, lawmakers would get together and sing for the good of the american taxpayer. >> well, you know what? they're certainly not doing it before election day, don't count on that, but there is good news. that cnn money asked 17 economists, what do you think? do you think congress will get a deal done in time? and that's unanimous. all 17 said yes. they don't think we're going to go over the fiscal cliff meaning everything all at once won't happen. not to say that little pieces of it won't go away. but remember, this is just a guess. those economists, they're putting a whole heck of a lot of faith in congress. that's taking a leap. and as i said, nothing's expected to happen until after november 6th. get ready for this to come down to the wire, something that congress has done often times, the best at procrastinating, aren't they? and that's a big worry b
the payroll tax holiday, that would expire, the health reform taxes, those would kick in. guess what? it would all mean less money in our wallets. carol? >> wow. well, you have to think that when congress looks at those numbers, lawmakers would get together and sing for the good of the american taxpayer. >> well, you know what? they're certainly not doing it before election day, don't count on that, but there is good news. that cnn money asked 17 economists, what do you think? do...
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we need tax revenue, we need to see additional tax revenues generated. we don't need to see that much general rayed. that would be counter-produce. >> what if they let the taxes lapse for the wealthiest americans which is what president obama wanted those families making more than $250,000 a year, individuals making more than $200,000 a year, what would the impact of that be? >> well, you know, that would hurt but that is something that the economy could digest because the -- total hit would be much smaller. of course, you are hitting higher income households who have other saving, other financial resources. they wouldn't pull back on their spending to the same degree. association you know, all else being equal it would be -- a negative to the economy in the very near term but it is something the economy could digest and -- ultimately longer run we need to address our fiscal situation. that is, we need government spending cuts and we need additional tax revenue. both of those things to address our fiscal problems. one way or the other we are going to nee
we need tax revenue, we need to see additional tax revenues generated. we don't need to see that much general rayed. that would be counter-produce. >> what if they let the taxes lapse for the wealthiest americans which is what president obama wanted those families making more than $250,000 a year, individuals making more than $200,000 a year, what would the impact of that be? >> well, you know, that would hurt but that is something that the economy could digest because the -- total...
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plus, more people will be out of work because of the small business tax increases from obama care, so what mitt romney is going to talk about is appeal to how we can do so much better. we need to invest in small businesses in latinos and women and, you know, people who are coming to this country often are starting small businesses, and that's -- we can't be putting new taxes on those small businesses, and we need to have new health care. >> is he going to get -- >> will also help -- >> i'm sorry. is he going to be more specific on what type of loopholes he is talking about, exemptions, to offset these tax cuts that he is proposed to grow the economy. is he going to provide more specifics? >>. >> when president romney works on the economy and health care issues, he will do it in an open and transparent way. they've already said they want to have congress and everybody involved and when governor romney was governor in massachusetts, he worked with an 85% legislator -- legislature and was able to cut taxes over a dozen times while he was cutting spending, but did he it collaboratively, o
plus, more people will be out of work because of the small business tax increases from obama care, so what mitt romney is going to talk about is appeal to how we can do so much better. we need to invest in small businesses in latinos and women and, you know, people who are coming to this country often are starting small businesses, and that's -- we can't be putting new taxes on those small businesses, and we need to have new health care. >> is he going to get -- >> will also help --...
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how in lord's name can they justify raising their taxes with these tax cuts? >> a tweet from mitt romney says this, agreed with @joe biden, the middle class has been buried last four years which is why we need a change in november. let's bring in chief political analyst gloria borger. channel in vice president joe biden right now. what was he trying to say obviously didn't come across as he clearly would like. >> well, what he was clearly trying to say and the obama campaign was quick to point this out is that what he was trying to say is that the middle class was buried urntd george w. bush and that's what started the problems for the middle class and that the obama administration has started to pull it out by its boot straps. and so the obama campaign just in case we didn't get that has a statement that says that the romney campaign is taking this entirely out of context. it's obviously in looking at the full transcript that joe biden was talking about the fact that the middle class was buried under failed bush policies. and of course they say romney/ryan wo
how in lord's name can they justify raising their taxes with these tax cuts? >> a tweet from mitt romney says this, agreed with @joe biden, the middle class has been buried last four years which is why we need a change in november. let's bring in chief political analyst gloria borger. channel in vice president joe biden right now. what was he trying to say obviously didn't come across as he clearly would like. >> well, what he was clearly trying to say and the obama campaign was...
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because, frankly, my discussion about lowering taxes isn't as attractive to them. therefore i'm not likely to draw them into my campaign. >> but last night, romney had a complete about face. now he is denouncing that remark all together. >> clearly in a campaign with hundreds, if not thousands of speeches and question and answer sessns, now and then you're going to say something that doesn't come out right. in this case i said something that's just completely wrong. i absolutely believe, however, that my life has shown that i care about 100%. and that's been demonstrated throughout my life. and this whole campaign is about the 100%. when i become president, it will be about helping the 100%. >> cnn political editor paul steinhauser joins me now in washington. romney chose to clarify his remark on fox. no accident there perhaps. >> he was doing an interview there last night with his running mate, paul ryan. i think what you heard last night was the answer mitt romney would have given in the presidential debate wednesday night if he had been asked by president obama
because, frankly, my discussion about lowering taxes isn't as attractive to them. therefore i'm not likely to draw them into my campaign. >> but last night, romney had a complete about face. now he is denouncing that remark all together. >> clearly in a campaign with hundreds, if not thousands of speeches and question and answer sessns, now and then you're going to say something that doesn't come out right. in this case i said something that's just completely wrong. i absolutely...
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vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] [ male announcer ] gly nimble, ridiculously agile, tight turning, fun to drive 2013 smart. ♪ >>> welcome back to "starting point." clint eastwood's address raised eyebrows because of this scene when he was talking to an empty chair. the empty chair represented president obama. this week's cover of "the new yorker" picks up on the performance agai
vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl...
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he wants to cut taxes, reduce regulations and streamline government. and looking at places from switzerland to singapore to dubai, you can see that being friendly to businesses and to tourists can produce an economic bonan bonanza. in some areas, like infrastructure, most agree that the government must act and the need is urgent. if you defer maintenance on your house, the house deteriorates and eventually you actually have to pay more. that is what we are doing with our infrastructure. rather than fix it now when borrowing costs are at historic lows, we are passing a much bigger bill to our children. as i mentioned earlier, the world economic forum ranks us 25th in the world in infrastructure, down from 5th only a decade ago. education may be more complex. just spending money isn't the answer. but the problem is clear. in the 1970s, america led the world in the number of college graduates. as of 2009, we're 14th among rich countries. and the jobs of the future will all require more education than in the past. or take federal funding for research and d
he wants to cut taxes, reduce regulations and streamline government. and looking at places from switzerland to singapore to dubai, you can see that being friendly to businesses and to tourists can produce an economic bonan bonanza. in some areas, like infrastructure, most agree that the government must act and the need is urgent. if you defer maintenance on your house, the house deteriorates and eventually you actually have to pay more. that is what we are doing with our infrastructure. rather...
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it's tax on capital gains. there are lots of people who believe it should be taxed as ordinary income. would you support moving the carried interest so it's taxed as interest rule. >> it came about always sweat equity. if someone came to you and said i want to open a restaurant. you take 80% of the profits and i'm take 20%. that's what care rid interest is. it's what the venture capital firms do and that's how people do. it incents people to look at it. all the way to farm countries to carried interest because we need to raise more revenue. >> what do you think of this man as a leader? he hired you, i assume. >> he gave me my first job back at bane company. he's an incredible family man. he's got a good sense of humor. it sometimes gets him in trouble but he geeset great sense of humor, and he's have very good sense ofhumor. i'm heartened by the fact that we have two fantastic candidates. i worked with president obama as well. they boenlt have a high degree of education and both knowledgebling. i think we're lu
it's tax on capital gains. there are lots of people who believe it should be taxed as ordinary income. would you support moving the carried interest so it's taxed as interest rule. >> it came about always sweat equity. if someone came to you and said i want to open a restaurant. you take 80% of the profits and i'm take 20%. that's what care rid interest is. it's what the venture capital firms do and that's how people do. it incents people to look at it. all the way to farm countries to...
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you're still raising taxes on the middle class. even his own economists that he relies on says you can't cut taxes by $5 trillion out paying for it by cutting deductions for people making $200,000 and less. that's just a fact. you can't do it. even if you close every single deduction for people making over $200,000, or $250,000 for families, you're still a trillion short. so he has to tell us how he will do this without increasing taxes on the middle class. so far the math does not add up. >> vice president biden said they have been buried. and they are jumping all over this, listen here to senator marco rubio. >> those are not my words. those happen to be the words of the distinguished vice president of the united states, mr. joe biden. don't boo, he is the best thing we have going, guys. don't boo. because in a moment of clarity, in a brief moment of clarity, he said what we knew. >> gaffe or no gaffe, and you will tell me it's not, isn't it still a problem for the president? >> no. you know, i heard senator rubio, and i heard th
you're still raising taxes on the middle class. even his own economists that he relies on says you can't cut taxes by $5 trillion out paying for it by cutting deductions for people making $200,000 and less. that's just a fact. you can't do it. even if you close every single deduction for people making over $200,000, or $250,000 for families, you're still a trillion short. so he has to tell us how he will do this without increasing taxes on the middle class. so far the math does not add up....
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listen to this. >> governor romney and i both agree our cooperate tax rate is too high. we both agree we've got to boost american energy production and it appears we've got some agreement that a marketplace to work has to have some regulation. i suspect that on social security we've got a somewhat similar position. >> you understand what he was trying do there? >> yeah, i do. >> i got a bit confused. >> i think you're right, wolf. and i think that is a disastrous approach. the truth of the matter is mitt romney right now is the head of a right-wing extremist party called the republican party. it wasn't always the case. that's what they are today. if the president cannot differentiate himself clearly from right-wing extremism, we've got a lot of problems as a nation and he's got problems as a candidate running for re-election. in terms of social security, it is absurd for the president to say that he and romney are coming down in the same way. social security today has a $2.7 trillion surplus. social security hasn't contributed one nickel to the deficit, can pay out benef
listen to this. >> governor romney and i both agree our cooperate tax rate is too high. we both agree we've got to boost american energy production and it appears we've got some agreement that a marketplace to work has to have some regulation. i suspect that on social security we've got a somewhat similar position. >> you understand what he was trying do there? >> yeah, i do. >> i got a bit confused. >> i think you're right, wolf. and i think that is a disastrous...
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let's stay on taxes. let's just stay on taxes for a moment. what is the difference? >> virtually everything he just said about my tax plan is inaccurate. >> all right. just for the record -- >> worry talking about -- >> just so everybody understands, we are way over our first 15 minutes. >> that's fine, isn't it? >> it's great. no problem. >> the last point i would make -- >> two minutes is up, sir. >> no, i had five seconds before you interrupted me. >> here are the specifics. >> excuse me. >> let's talk the other big. >> no, no, let's not. let's let him respond to this specific on dodd-frank. >> some viewers also wondered why lehrer didn't challenge romney's attack on his own network, pbs. >> i'm going to stop the subsidy to pbs. i love big bird. actually like you, too, but i'm not going to keep on spending money to borrow money from china to pay for it. >> the web went wild for big bird. shame shame. mentions of big bird went up 800,000%. seriously, though. l lehrer with his criticized for not explaining dodd-frank and simpson bowles to the public. obama adviser s
let's stay on taxes. let's just stay on taxes for a moment. what is the difference? >> virtually everything he just said about my tax plan is inaccurate. >> all right. just for the record -- >> worry talking about -- >> just so everybody understands, we are way over our first 15 minutes. >> that's fine, isn't it? >> it's great. no problem. >> the last point i would make -- >> two minutes is up, sir. >> no, i had five seconds before you...
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tax rates by 20%. this could add up to $5 trillion, a big cut. but it doesn't take into account eliminating deductions and closing loopholes it would reduce tax cuts on the wealthy, but the problem is romney hasn't been specific about which reductions and how many? false on the claim. eliminating any tax cut would make it less than 5 trillion, even if it's which deductions and which loopholes. you mitt romney likes to talk about the middle class squeeze. wages down and all kinds of prices are up. >> do you realize over the last four years, every year you have seen the median income in america come down. income is down some 4,300 a family. the middle class squeeze has been unbearable. gasoline prices way up. food prices up, electricity prices up. health insurance costs up. >> the facts in this, easy to fin. median income down over the last four years, but only about 2,500 since president obama took office and prices for all those items are up, though, food and electricity barely, so the verdict is true,
tax rates by 20%. this could add up to $5 trillion, a big cut. but it doesn't take into account eliminating deductions and closing loopholes it would reduce tax cuts on the wealthy, but the problem is romney hasn't been specific about which reductions and how many? false on the claim. eliminating any tax cut would make it less than 5 trillion, even if it's which deductions and which loopholes. you mitt romney likes to talk about the middle class squeeze. wages down and all kinds of prices are...
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lower taxes, less regulation, balance the budget. these are things that make a difference. the other thing that romney will do that the president is not doing and simply, frankly, is incapable of doing, i served with him for two years in the u.s. senate. nice guy. talented. horribly partisan. what mitt romney will do as president is the same thing that ronald reagan did and, frankly, bill clinton did. hold your principles. be tough. in the end you know you have to negotiate, and that's the only way this country can move forward. that is what president romney will do, and that's the president that people saw potential president that people saw in the next president they saw debating the other night. >> governor strickland, the last few seconds to you. new polls in ohio, is it going to be a closer race than it has been when we see the results come out? >> of course, ohio cannot be taken for granted, candy, by any candidate or either political party. it will be a very close race. i believe because of the president's saving of the american auto industry, which, in fact is relat
lower taxes, less regulation, balance the budget. these are things that make a difference. the other thing that romney will do that the president is not doing and simply, frankly, is incapable of doing, i served with him for two years in the u.s. senate. nice guy. talented. horribly partisan. what mitt romney will do as president is the same thing that ronald reagan did and, frankly, bill clinton did. hold your principles. be tough. in the end you know you have to negotiate, and that's the only...
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eastern time. >>> preaching politics from the pulpit, p if it happens churche risk losing tax-exempt status. many religious leaders across the country challenge the law anyway. find out why. he delicious sugar-free vitafusion fiber well gummies have more fiber than other leading brands. they're the better way to enjoy your fiber. . >>> they're calling for the defate of president obama and so-called unbiblical candidates. organizers hoped as many as 1500 pastors across the country would take part today. dan gilgoff joins us from washington to tell us more about what's happening here. dan, who is behind this, and what causes a candidate to be defined as "unbiblical" say some of the pastors? >> there's a conservative evangelical group called alliance defending freedom that organized the event today. what's really kind of incredible about it is this the third year they are challenging pastors to speak out for or against political candidates. what started a few dozen churches participated. this year today there were 1400 pastors who say they are participating. of course, the other big thi
eastern time. >>> preaching politics from the pulpit, p if it happens churche risk losing tax-exempt status. many religious leaders across the country challenge the law anyway. find out why. he delicious sugar-free vitafusion fiber well gummies have more fiber than other leading brands. they're the better way to enjoy your fiber. . >>> they're calling for the defate of president obama and so-called unbiblical candidates. organizers hoped as many as 1500 pastors across the...
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you specifically said you would cut this tax, this tax, this tax. >> a lot of promises. >> that add up to 5 trillion. how will you pay for that? i think that will linger a bit. >> if somebody asks him specifically what loop holes and deductions are you proposing to do away with? the president hasn't asked that question. no one has asked him that question. >> chris wallace has, actually. paul ryan. >> the bigger issue is that you can take every single deduction there is, abolish them all and that adds up to $5 trillion. >> no, i don't agree with you on that. the tax policy center you're referring to is incomplete and they've revised it since then. >> i'm not just referring to that analysis. >> governor romney did talk about how he would eliminate some deductions. he would have a bucket that he would fill up. >> what was he saying was in that bucket? let's make up a number. here is what the number is. >> he said it could be $50,000, if you capped deductions at $50,000, you're not even in the ballpark of $5 trillion. >> it was not a specific what are the actual loop holes. i think that wa
you specifically said you would cut this tax, this tax, this tax. >> a lot of promises. >> that add up to 5 trillion. how will you pay for that? i think that will linger a bit. >> if somebody asks him specifically what loop holes and deductions are you proposing to do away with? the president hasn't asked that question. no one has asked him that question. >> chris wallace has, actually. paul ryan. >> the bigger issue is that you can take every single deduction...
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how in lord's name can they justify raising taxes with these tax cuts? >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states. of course the middle class has been buried. they're being buried by regulations. they're being buried by taxes. they're being buried by borrowing. they're being buried by the obama administration's economic failures. >> reporter: romney campaign put together a conference call to draw attention, more focus to the comments by the vice president. the obama campaign pushed back saying this was just another act of desperation and what the vice president was talking about were -- were situations or a climate that was put in place by the failed policies of the former administration. i'll tell you what, at the very next event during his remarkings, the vice president did touch on the same subject but left out the word buried. soledad? >> walk us through the logistics of toni
how in lord's name can they justify raising taxes with these tax cuts? >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states. of course the middle class has been buried. they're being buried by regulations. they're being buried by taxes. they're being buried by borrowing. they're being buried by the obama administration's...
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i will not put in place a deficit thdea tax that adds to the deficit. my plan is not to put in place any tax cut that will add to the deficit. >> we want to look at the facts here, again. mitt romney has not laid out specifics for how he would pay for his tax cut. he says it's by reducing deductions and closing loopholes, but he hasn't said which or how many. so, the verdict here is simply incomplete. we just don't know. >> that was john burrman reporting there for us. one way, though, is that romney has said that he would actually pay for this reduced revenue is by capping itemized deductions, but still so few specifics. i mean, he floated the idea of capping deductions at 17,000 and then floated the idea of capping them at 25,000 or 50,000. don't voters deserve to know and need to know what it is going to be at this point? >> i think he's going to have to give more specifics, certainly. a debate may not be the best platform to give specifics because the answers are supposed to be short and, frankly, randi, he was able to get away with not giving many
i will not put in place a deficit thdea tax that adds to the deficit. my plan is not to put in place any tax cut that will add to the deficit. >> we want to look at the facts here, again. mitt romney has not laid out specifics for how he would pay for his tax cut. he says it's by reducing deductions and closing loopholes, but he hasn't said which or how many. so, the verdict here is simply incomplete. we just don't know. >> that was john burrman reporting there for us. one way,...
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, tax reforms on individual and corporate level. we need to take a look at things like education. interestingly, going back to the technology, we have a lot of americans out of work, but a lot of jobs in the technology field where we don't have enough skilled workers to fill them. maybe we need to look at education as well. >> read this quote from henry blodget, the business insider. here is what he said here. he said this is about our current system and philosophy. not sustainable. why not? they're creating a country of aful overlords and 300 million serfs, peasants. are you optimistic? will the middle class start rolling, bouncing back again? >> i'd like to say yes, i'm hopeful. but i think it really is going to -- i think this is going to take time and i think it is going to come down a lot to policies and regulations and what our tax structure looks like moving forward. i think it will come down to the political elections as well and what americans see for their future. >> morgan brennan, thank you. i'll go with you on the glass
, tax reforms on individual and corporate level. we need to take a look at things like education. interestingly, going back to the technology, we have a lot of americans out of work, but a lot of jobs in the technology field where we don't have enough skilled workers to fill them. maybe we need to look at education as well. >> read this quote from henry blodget, the business insider. here is what he said here. he said this is about our current system and philosophy. not sustainable. why...
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the stimulus was one-third tax cuts, big payroll tax cuts. plenty of tax cuts. >> very true. >> and for small business tax cuts, too. >> export boom, exports on a monthly basis have risen 50% from their low in march of 2009. the difference is that we have an economy in which rising demand doesn't necessarily translate into more jobs instantly because we're so good at being productive. we use machinery and software computers. the other big difference between now and the '40s and '40 50s the rest of the world had basically destroyed the rest of its capacity in world war ii so we made everything we wanted, cars, t-shirts, socks, televisions, electronics. we made that all here in the u.s., were consumed it. we exported it because nobody else was doing it. we are not going back to a world in which we will have a monopoly on industrial production. in fact, it's the opposite. everybody else now hats hardware to make all the stuff that we did, so it is much more of a challenge to just say, you know, we're going to do these sort of three things that w
the stimulus was one-third tax cuts, big payroll tax cuts. plenty of tax cuts. >> very true. >> and for small business tax cuts, too. >> export boom, exports on a monthly basis have risen 50% from their low in march of 2009. the difference is that we have an economy in which rising demand doesn't necessarily translate into more jobs instantly because we're so good at being productive. we use machinery and software computers. the other big difference between now and the '40s...
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by the way, when you take that together with state income tax and real estate tax and gasoline tax and -- that means that small businesses that are highly acceptable will give half of what they've got to the government. that's going to kill jobs. i don't want to kill jobs. my priority is creating jobs. i'll help small business do that with everything i can do. now, we can do better. we don't have to stay on the path we've been on. we can do better. there was a report that just came out this morning on job creation this last month. there were fewer new jobs created this month than last month, and the unemployment rate, as you know, this year has come down very slowly, but it's come down, nonetheless. the reason it's come down this year is primarily due to the fact that more and more people have just stopped looking for work. if you just drop out of the work force, if you just give up and say, look, i can't go back to work, i'm just going to stay home, if you just drop out altogether, why, you're no longer part of the employment statistics, so it looks like unemployment is getting better
by the way, when you take that together with state income tax and real estate tax and gasoline tax and -- that means that small businesses that are highly acceptable will give half of what they've got to the government. that's going to kill jobs. i don't want to kill jobs. my priority is creating jobs. i'll help small business do that with everything i can do. now, we can do better. we don't have to stay on the path we've been on. we can do better. there was a report that just came out this...
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how in lord's name can they justify raising their taxes with these tax cuts? >> and this is how paul ryan responded. >> i thought he was taking my speech. you know what? we agree. the middle class has been buried over the last four years. they're being buried by obama care, by borrowing, taxes, spending, more regulations, all this uncertainty plaguing businesses. the way to fix this is stop this and elect mitt romney. >> on the joe biden, gaffe meter, how big of a gaffe is this? >> joe biden gaffe meter? that's probably different. probably a six for a non-joe biden it would probably be an eight. come on, joe biden makes some great ones. you know, i thought it was interesting yesterday, the amount of conference calls that suddenly both sides engaged in after joe biden opened his mouth. after, put you back in chains comment, they took him off the stage for a few weeks and they may do that for the rest of the election. >> i want to move on to another piece of tape that's received a lot of attention over the last 24 hours or so. a tape put out by fox news, daily c
how in lord's name can they justify raising their taxes with these tax cuts? >> and this is how paul ryan responded. >> i thought he was taking my speech. you know what? we agree. the middle class has been buried over the last four years. they're being buried by obama care, by borrowing, taxes, spending, more regulations, all this uncertainty plaguing businesses. the way to fix this is stop this and elect mitt romney. >> on the joe biden, gaffe meter, how big of a gaffe is...
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the bush era tax use expire. health reform taxes kick in opinion 88% americans would pay more in taxes. >> how likely do we think the tax increases will kick in. >> cnn money asked 17 economists what do you think whether or not congress can get a deal done in time and the answer was unanimous, all 17 said, you know what? you're not going to go off the fiscal cliff. for them it's just a guess. those economists are putting a lot of faith in congress and the reality is don't expect anything to happen until after the election on november 6th. it's going to come down the wire. the big worry is that we could go into a recession if congress doesn't get their act together in time. >> even if we don't fall off a fiscal cliff, there's a chance that at least some of the tax increases will go into effect. >> exactly. some taxes could still go up even if congress avoid a full fiscal cliff. a good example is the payroll tax credit. expect that to expire no matter what. the reality is there's no champion behind it. the white ho
the bush era tax use expire. health reform taxes kick in opinion 88% americans would pay more in taxes. >> how likely do we think the tax increases will kick in. >> cnn money asked 17 economists what do you think whether or not congress can get a deal done in time and the answer was unanimous, all 17 said, you know what? you're not going to go off the fiscal cliff. for them it's just a guess. those economists are putting a lot of faith in congress and the reality is don't expect...
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the earned income tax credit. i doubled the earned income tax credit. it was signed under the tax credit. reagan started it. we started it with a strong support of republicans in congress. president bush dealt with that, then president obama increased the earned income tax credit for families with more than three children. this is a rejection of basically more than three decades of bipartisan policy to support working families. it's not a bunch of free loaders. there's only 4% of the total population who don't pay federal income tax and don't work and may not be looking for work. we now have the numbers on this, so, i think that most important thing for him is to find a way to relate to more people in these debates and speak to more of them. this is not the republican primary anymore. >> is he principled, do you think? mitt romney? >> that's not the issue, to me. i think he will -- i think he's principled in the sense that he will keep e commitments that he has made. almost all people when they run for president m
the earned income tax credit. i doubled the earned income tax credit. it was signed under the tax credit. reagan started it. we started it with a strong support of republicans in congress. president bush dealt with that, then president obama increased the earned income tax credit for families with more than three children. this is a rejection of basically more than three decades of bipartisan policy to support working families. it's not a bunch of free loaders. there's only 4% of the total...
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bain, 47%, tax returns or women. what on earth was going on with him last night? four home runs, no hits taken. >> yeah. i can't answer why he didn't do that. but i can tell you this. i do know that he was waiting to hear from mitt romney about how he was going to pay for his $5 trillion tax cut and he didn't get an answer. i would love to know from newt gingrich, who i know has been working with and is a surrogate for the romney campaign. can he name two, at least two of the deductions that will be cut to be able to pay for the $5 trillion tax cut that romney is offering? >> very good question. newt gingrich, one thing we're not getting from mitt romney is any real detail about how he's going to achieve this miraculous saving. can you explain to us any of the detail? >> well, first of all, there are at least two components to how he ends up paying for the tax cut. one is growth, where anybody who looks at getting down from obama's devastatingly high unemployment rate with 23 million americans out of work, if you get back to a normal unemployment rate you dramatic
bain, 47%, tax returns or women. what on earth was going on with him last night? four home runs, no hits taken. >> yeah. i can't answer why he didn't do that. but i can tell you this. i do know that he was waiting to hear from mitt romney about how he was going to pay for his $5 trillion tax cut and he didn't get an answer. i would love to know from newt gingrich, who i know has been working with and is a surrogate for the romney campaign. can he name two, at least two of the deductions...
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. >> it's been taxing. some have called it the term of the century. >> reporter: now three months later the court is back and there's no sign of it cooling down. >> the justices are moving right into the fire. they're tackling some of the most legal questions of the day. across the board probably the most biggest term in at least a decade. >> reporter: same-sex marriage, voting rights, and abortion are all likely to come up this term which kicks off monday. >> there are some very exciting cases already on the docket and there's a lot more in the pipeline that the court's going to be making a decision on soon. >> reporter: another set of big decisions will bring more scrutiny on the chiefs justice. rulings that the health care program he offered caused a rift between anton and scalia. >> no, i did not have a falling out with justice roberts. >> loud words exchanged? slamming of doors? >> no? >> no, no. >> nothing like that? >> nothing like that. >> liberals fear a more hard line, dogmatic shift to the right.
. >> it's been taxing. some have called it the term of the century. >> reporter: now three months later the court is back and there's no sign of it cooling down. >> the justices are moving right into the fire. they're tackling some of the most legal questions of the day. across the board probably the most biggest term in at least a decade. >> reporter: same-sex marriage, voting rights, and abortion are all likely to come up this term which kicks off monday. >>...
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struggling over the last four years or that he wants to raise the obama administration wants to raise taxes by over a trillion dollars. this is the joe biden we want. joe biden has to be careful about going too hard at paul ryan because of just that, because of the gaffes and because he can look over bearing, and paul, a lot is riding on paul ryan, and we want to keep that momentum going from that first debate, and he has to be careful not to get into the weeds of some of these policies. >> i know. he tends to be quite wonkish at times and people listen and say what? >> well, that's right. it is important that ryan stick with the big picture and go after biden on the rising debt and our sky rocketed unemployment and talk about the failed last four years as opposed to being trying to get trapped in some of the bieden spiderwebs that he will try to weave. >> it appears that joe biden is really taking this seriously because the democrats don't want to repeat of the first debate, right? joe biden apparently has taken six days off and practicing, practicing, practicing, especially with zingers.
struggling over the last four years or that he wants to raise the obama administration wants to raise taxes by over a trillion dollars. this is the joe biden we want. joe biden has to be careful about going too hard at paul ryan because of just that, because of the gaffes and because he can look over bearing, and paul, a lot is riding on paul ryan, and we want to keep that momentum going from that first debate, and he has to be careful not to get into the weeds of some of these policies....
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may go as far as endorsing a candidate for president with the hopes that the irs will revoke their tax-exempt status. it's part of a growing effort by the group alliance defending freedom to challenge the johnson amendment, which they say is unconstitutional. it states, religious organizations cannot participate in or interfere in any political campaign on behalf of any candidate. >>> all right, it's one of the biggest challengers for the busy traveler staying fit while you are on the road. our richard klaas has a plan that will have you doing push-ups in your pjs. >> adrian has been training me for four years. he knows my travel lifestyle well. so he's put together a routine of exercises suited to a hotel room of any size. when you wake up, in your pjs, all in 10 minutes. >> you're going to sit all day in a meeting, and you've probably been on the plane for four hours up to 16 hours depending how far you've flown and your body is just stuck. it just wants to move, so move. >> so the workout. six simple steps. >> first let's do a squat. the thing about the squats is you'll be in a sitting pos
may go as far as endorsing a candidate for president with the hopes that the irs will revoke their tax-exempt status. it's part of a growing effort by the group alliance defending freedom to challenge the johnson amendment, which they say is unconstitutional. it states, religious organizations cannot participate in or interfere in any political campaign on behalf of any candidate. >>> all right, it's one of the biggest challengers for the busy traveler staying fit while you are on the...
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moreover the next six weeks, and over and over again, you will hear my opponents talking about how bigger tax cuts and fewer regulations and that's the way to go, and since government can't do anything, it should do almost nothing. if you can't afford health care, then hope you don't get sick is their theory. if you can't afford college, borrow money from your parents. you know what? that's not who we are. i don't think government can solve all of our problems, but government is not the source of all of our problems, either. there's stuff we can do together. instead of blaming, immigrants, unions or gays or somebody for what is going on, what we need to do is pull together. we're all in thistogether. we believe that america only works when we all accept responsibility for ourselves and for our each other. that's how we create -- >> mr. obama will be on the road through wednesday's first presidential debate. mitt romney heads to colorado tomorrow where he will hold a rally and continue his preparations for wednesday's showdown in denver. he went to church this morning outside boston but held n
moreover the next six weeks, and over and over again, you will hear my opponents talking about how bigger tax cuts and fewer regulations and that's the way to go, and since government can't do anything, it should do almost nothing. if you can't afford health care, then hope you don't get sick is their theory. if you can't afford college, borrow money from your parents. you know what? that's not who we are. i don't think government can solve all of our problems, but government is not the source...
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tax releases, i'm sorry. i couldn't understand the level of attack, where he was going. it seemed like he just didn't really want to compete. >> well, look, piers, certainly there has been frustration by democrats on some of the lost opportunities here, but let's try to take a look at what he actually did and perhaps what he was thinking. he wanted to have a conversation with the american people and let's talk about one of the things that i actually think he did do right, which was look into the camera, i think it was a deft move because it really shows that he does want to have that direct conversation, talked about what he has done and what he wanted to continue to do, and point out the disastrous policies that romney wants to put in place. but what i think happened was while he wanted to quote, do no harm and he was practicing the political equivalent of the hippocratic oath, he let romney get away with being a total hypocrite and telling the blatant lies and blatant untruths and not going after him on the 47%, on his offshoring. i do think that that was missed opport
tax releases, i'm sorry. i couldn't understand the level of attack, where he was going. it seemed like he just didn't really want to compete. >> well, look, piers, certainly there has been frustration by democrats on some of the lost opportunities here, but let's try to take a look at what he actually did and perhaps what he was thinking. he wanted to have a conversation with the american people and let's talk about one of the things that i actually think he did do right, which was look...
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when people hear taxes they say i need details. because i pay taxes. i want to know exactly what's going to happen if you're elected. i speak for america. no. but i certainly speak for myself and paying taxes. that's what i want to know. >> speaking only for soledad o b bri yen. >>> they're the kind of experiences you'd assume nobody could survive. young woman sold into sexual slifry. the young women are fighting back. [ male announcer ] extreme environments can cause a spontaneous change in dna, resulting in unexpected power and agility. introducing the all-new, all-powerful gator rsx 850i. sixty-two horsepower, a fully independent multilink suspension and a top speed of 53 miles per hour. it's a whole new species of gator. see just how much the gator has evolved at johndeere.com/gator. >>> welcome back to "starting point," everyone. a couple stories you cannot miss this morning. we're going a little bit highbrow on you right now. assault charges have been dropped against the man accused of choking wie ining lindsay lo cell phone pictures. she told po
when people hear taxes they say i need details. because i pay taxes. i want to know exactly what's going to happen if you're elected. i speak for america. no. but i certainly speak for myself and paying taxes. that's what i want to know. >> speaking only for soledad o b bri yen. >>> they're the kind of experiences you'd assume nobody could survive. young woman sold into sexual slifry. the young women are fighting back. [ male announcer ] extreme environments can cause a...
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we're five weeks out, soledad, and he's not said how he'd pay for his tax plan. we're five weeks out, he hasn't said how he'll shore up medicare or social security. to protect benefits instead of cutting them. the bar is really high for him. i think chris christie set it even a little higher. >> so, sean, how high is the bar for governor romney? >> i see the folks from the obama campaign have talked down the expectations from the president so many days in a row, that today i expect them to come out and say that the president's got a fear of public speaking. i mean, these guys keep talking it down like, you know, it's going to be a blow-away. the fact is the president is the only one who's been on a one-on-one stage seven times-ish >> but you're doing the same thing. you're complaining about the democrats and you're doing the same thing. >> no, but i'm just -- the president is the only one who's actually been through a presidential debate. by all accounts i think the one thing that republicans and democrats can agree upon is the president is a gifted speaker. he h
we're five weeks out, soledad, and he's not said how he'd pay for his tax plan. we're five weeks out, he hasn't said how he'll shore up medicare or social security. to protect benefits instead of cutting them. the bar is really high for him. i think chris christie set it even a little higher. >> so, sean, how high is the bar for governor romney? >> i see the folks from the obama campaign have talked down the expectations from the president so many days in a row, that today i expect...